Questions & Answers

Question: Can Someone Take Over My Mortgage Payments?

Answer: Yes!


Get Immediate Mortgage Relief Via 

The Mortgage Payments Relief Program

And The National Mortgage Relief Program


We Take Over Your Mortgage Payments

And You Can Move on.

What if my mortgage balance is more than what my home is worth?

What if my mortgage is a so called "non assumable loan" can you help me?

Yes we can!

Can Some One Take Over My Mortgage Payments, taxes, insurance and maintenance? Yes!

Many homeowners are asking: Is there an alternative to a strategic default, buy and bail or short sale of my home? Yes!

Below are some questions and answers of how we can help you get immediate mortgage relief and what we can do for your unwanted or unmanageable home and mortgage payments:

​

  • Q. Can you really take over my upside down or underwater home?


  • A . Yes we can. Homeowner Relief Options Inc. has been taking over these types of homes and the payments and mortgages associated with over 20 years experience. 



  • Q. If I have a non assumable mortgage can you still take over the home and make the payments?


  • A. Yes. The Homeowners Relief Program works with so- called "non assumable" homes and mortgages.



  • Q. Is approval from my mortgage company or lender required in order for you to pay my mortgage payments?


  • A. No. Mortgage payments can be paid by anyone. However we always notify the mortgage company or lender that future payments will be coming from Homeowner Relief Options Inc.
    Future monthly payments will be drawn from our account and this account will be on file with them for future reference.     The mortgage company or lender are usually quite happy that the mortgage payments will be made period.



  • Q. Will the lender or bank be made aware of who will be making the payments?


  • A. We will notify them as stated above. The bank or lender will be properly notified and made fully aware that Homeowner Relief Options Inc. will be making the future payments on the mortgage.
    In addition to utilizing an authorization from you for legal communication now and in the future to your lender, servicer or mortgage company concerning the mortgage and the property, the authorization from you will clearly state that we will have control and management of the property and monthly payments will be coming from Homeowners Relief Options Inc. now and in the future. 


  • This is almost always sufficient for lenders as they want to know primarily who the future contact is and that payments are being made and will continue. Again, lenders do not care who makes the mortgage payments just as long as they are made.



  • Q. Once your company starts making future mortgage payments who does the lender send notices to for such things as monthly statements, escrow notices, payment changes or increases, taxes, insurance, etc?


  • A. All notices such as monthly statements, escrow changes, payment changes, property taxes, insurance, etc are sent directly to Homeowner Relief Options Inc. since we will now be making those payments.


  • Sometimes the lender may still send you a notice or two in the beginning but all notices are sent to us. This also applies to an HOA if you have one as well. We will send an authorization to you for the HOA payment once we have a signed agreement with you. Most HOA's require this as well in their bylaws.




  • ​Q. One of the benefits I had through this property while I was making payments was to claim the mortgage interest on my income tax return. How is this handled for the payments already made and in the future?


  • A. Many of our clients ask this question the most. You absolutely can claim the mortgage interest on your income tax return for payments you have already made. We'll claim the mortgage interest for the time we take over and are making payments as well as future payments.  IRS allows whoever has made payments up to the time of filing to claim mortgage interest deductions.




  • Q. Who will be responsible for future maintenance and repairs?


  • A. As far as future maintenance and repairs are concerned Homeowners Relief Options Inc. will absorb the cost of repairs and maintenance unless it is agreed to otherwise in the contract and agreement and as long as you the homeowner have disclosed all repairs and maintenance including possible future ones truthfully with full disclosure.




  • Q. What about the "due on sale clause"? If property is transferred can't the lender or bank call the loan due?


  • A . The "due on sale clause" is a clause in virtually every mortgage originated after 1983. It prevents most homeowners from transferring their property to anyone without the lenders or banks consent. The banks do this because they want to charge a higher interest rate if possible and other applicable fees to the "new" owner. 


  • The new owners usually have to go through the process of applying for a loan, credit check, large down payment and other requirements which usually stops you from transferring your property this way and you're still stuck with your unwanted or unmanageable property. 


  • The legal apparatus (Trust) that we use to acquire and hold the property (Federal Trust Law) makes the due on sale clause not applicable in this case. We have never had a lender call the loan due because of the due on sale clause, especially when payments are being made.




  • Q. How fast can we do this?


  • A. As fast as 30 days or less in some cases if the property is already unoccupied or vacant. If you are currently living in the property or you have a tenant occupying the property we will work according to your time frame and schedule. We may even accept properties with existing tenants depending on the tenant situation. If you need time to proceed slowly you can. If you want this done faster it is possible as well depending on the situation.




  • Q. Will I be charged anything upfront?


  • A . No. We charge no upfront fee's or commissions associated with these transactions. We are not realtors, we're private real estate investors. If you hire a realtor and go through a traditional closing you can expect to pay as a rule an estimated 8% to 10% of the home's purchase price for fee's and closing costs. So let's say for instance you owe $350,000 on your home, your closing costs would amount to anywhere from $28,000 to $35,000! You would not inccur these expensive closing costs with us.


  • Since we are real estate investors, you only pay for document preparation, transaction and recording fee's (we call them closing fee's) anywhere between $300 to $500 or less in some cases. This includes recording costs and applicable fee's charged by your local county recorder's office where the property is currently recorded and registered. You pay this only at the end when the finalization occurs and when documents are to be signed, notarized and completed. There are no hidden or unexpected costs later.




  • Q. How does your program make the mortgage payments?


  • A. Our business model relies on various ways to make future mortgage payments every month until the loan can be satisfied or paid off completely. Our main focus and goal is to get the property sold and/or a payoff of the mortgage completely at some point in the future.


  • Among our many ways to pay the monthly mortgage are our many clients on standby waiting to occupy the property with the intention to buy the property in the future which falls in line with our goal AND Your goal of paying off the mortgage completely when market conditions allow and when our tenant buyer is able to purchase according to their contract with us. 


  • We have Tenant Buyers, not renters . We want to payoff your mortgage in full, that is the goal. The terms with our tenant buyers are usually 1 to 5 years but some can take longer. This also depends on market conditions, mortgage amount, area, type and condition of home, etc. 


  • In SOME cases it may be possible for us to negotiate with your lender to purchase your mortgage note at a negotiated marketable price. This does require time and patience and may not apply to all homes that we acquire and may not be applicable to all lenders and mortgages. 


  • Again, if you are in default or pre foreclosure or even current, the Mortgage Payments Relief Program is structured to get your monthly mortgage paid on time every month until the current mortgage can be paid off and satisfied in full.


  • If you are in default or pre foreclosure we can stop it and save your credit. The bottom line is while your home is waiting to be sold but can't be sold right away because of market conditions, upside down, underwater, no equity, etc., we get the mortgage paid, take care of maintenance, insurance, taxes, etc. until we can satisfy and pay off the mortgage.


  • Can or will a Realtor do that for you? Probably not. But we can.




  • Q. How do I know the mortgage payments will be made? 


  • A. You will always have the ability to call the mortgage company or lender if you so desire at anytime to check the status of payments. We also sign a legal contract and agreement with you stating that payments will be made in exchange for the property being transferred to our Trustee. After all we would not want to make monthly and future mortgage payments unless we have control of the property.


  • We are a group of private real estate investors. We are in business to ultimately make a profit. We actually profit only when we have properties and homes that do not foreclose after we take possession. To foreclose is not our business model. We invest our time and money into the property and do not want to lose our investment, as our Mortgage Payments Relief Program is based on monthly mortgage payments being made and the ultimate satisfaction and pay off of the mortgage note. 




  • Q. Can we help every homeowner?


  • A. Almost everyone.... We are not able to help everyone but for most homeowners we can and we'll do our best. Every home and homeowners circumstances are different. We certainly can help homeowners who cannot sell their property in the traditional manner because of "upside down mortgages" or "underwater mortgages", owing more than what the property is worth or simply have a need to get out from under the home and payments NOW or in the immediate future. 


  • The Mortgage Payments Relief Program is an alternative program where none usually existed before.


  • So instead of:  a) walking away and intentionally defaulting or foreclosing (strategic default, buy & bail)  b) paying on a mortgage that continues to drain you financially, simply let Homeowners Relief Options take over the home and mortgage payments you no longer want, can't afford or can't manage. Instead of economic default , where you have no choice but to foreclose because of circumstances beyond your control, ie: coronavirus or covid 19 pandemic, loss of income, unemployment, divorce, must move out of town and can't sell, etc.,


  • let Homeowner Relief Options take over the mortgage payments and house and you can move on.


  • simply give us a no obligation call or email and find out if we are able to help you.



  • We'll do the rest and start the process.


  • We take over..You can move on




  • This gives us some basic information about your mortgage and home situation without an obligation from you. 


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